Werewolf Therapeutics, Inc.

HOWL • NASDAQ

Werewolf Therapeutics, Inc. is a biotechnology company in the healthcare sector on NASDAQ, led by Daniel J. Hicklin, with a market cap of $53.4M. As of Q3 2025, 46% of shares are held by 62 institutional investors, with RA CAPITAL MANAGEMENT, LLC as the largest holder at 14.61%.

President and Chief Executive OfficerDaniel J. Hicklin

Market Cap$53.4M

Biotechnology

Healthcare

Employees46.0

Websitewerewolftx.com

Country

United States of America

Overview

Overview of institutional ownership in HOWL as of Q3 2025 with a market cap of $90.1M

All Institutions

Institutions: 62
Value Held: $41.6M
Shares Held: 21.1M
Avg Position: $670.6K
Median Position: $32.9K

Hedge Funds

Hedge Funds: 10
Value Held: $16.4M
Shares Held: 8.3M
Avg Position: $1.6M
Median Position: $384.4K

Ownership Breakdown

Institutional (non-HF)

27.93%

$25.2M

Hedge Funds

18.22%

$16.4M

Retail & Other

53.85%

$48.5M

Based on market cap of $90.1M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in HOWL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	$13.2M 0.16% of portfolio	14.61% 6.7M shares	Q2 2021 Held for 4y 5m	$8.1B
MPM ASSET MANAGEMENT LLC Venture Capital	Ansbert Karl Gadicke Managing Partner	$8.5M 19.08% of portfolio	9.42% 4.3M shares	Q2 2021 Held for 4y 5m	$44.5M
MPM Oncology Impact Management LP Institution	Christian Albrecht Wulf Von Schimmelmann Managing Partner	$4.7M 0.78% of portfolio	5.27% 2.4M shares	Q2 2021 Held for 4y 5m	$610.9M
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$3.6M 0.00% of portfolio	4.00% 1.8M shares	Q2 2021 Held for 4y 5m	$1.33T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.8M 0.00% of portfolio	3.08% 1.4M shares	Q2 2021 Held for 4y 5m	$6.69T
S SPHERA FUNDS MANAGEMENT LTD. Institution	-	$1.2M 0.30% of portfolio	1.37% 626.8K shares	Q2 2021 Held for 4y 5m	$416.3M
D DC Funds, LP Institution	-	$1.2M 37.32% of portfolio	1.29% 589.1K shares	Q2 2021 Held for 4y 5m	$3.1M
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$898.3K 0.00% of portfolio	1.00% 456.0K shares	Q2 2022 Held for 3y 5m	$75.8B
Partner Fund Management, L.P. Hedge Fund•Sector	Jonathan Jude Aljoe CFO	$790.2K 0.07% of portfolio	0.88% 401.1K shares	Q2 2021 Held for 4y 5m	$1.2B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$651.8K 0.00% of portfolio	0.72% 330.8K shares	Q2 2021 Held for 4y 5m	$1.57T

Net Capital Flow

Institutional buying and selling activity for HOWL in Q3 2025

Traded: −$2.1M
Buyers: 19
Sellers: 30
Total Bought: +$1.0M
Total Sold: −$3.1M
Avg Position: $577.4K

Biggest Buyers

Institution	Net Bought	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$304.4K +154.5K shares	$304.4K 154.5K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$275.2K +139.7K shares	$898.3K 456.0K shares
VANGUARD GROUP INC Institution	+$216.3K +109.8K shares	$2.8M 1.4M shares
C Cubist Systematic Strategies, LLC Institution	+$92.0K +46.7K shares	$92.0K 46.7K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$26.5K +13.4K shares	$183.3K 93.0K shares
V Virtu Financial LLC Institution	+$24.1K +12.2K shares	$24.1K 12.2K shares
Cetera Investment Advisers RIA/Wealth	+$20.1K +10.2K shares	$20.1K 10.2K shares
UBS Group AG Institution	+$18.4K +9.3K shares	$25.2K 12.8K shares
S SIMPLEX TRADING, LLC Institution	+$17.0K +8.6K shares	$30.8K 15.6K shares
CITIGROUP INC Institution	+$16.4K +8.3K shares	$17.1K 8.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$747.9K −379.6K shares	$624.6K 317.1K shares
BANK OF AMERICA CORP /DE/ Institution	−$588.5K −298.7K shares	$3.6M 1.8M shares
B BlackRock, Inc. Institution	−$513.5K −260.7K shares	$199.6K 101.3K shares
GOLDMAN SACHS GROUP INC Institution	−$329.2K −167.1K shares	$118.9K 60.3K shares
J JANE STREET GROUP, LLC Institution	−$209.5K −106.4K shares	$529.1K 268.6K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$146.5K −74.4K shares	$35.1K 17.8K shares
Marshall Wace LLP Institution	−$113.1K −103.8K shares	Sold Off 0 shares
Y Y-Intercept Ltd Institution	−$92.0K −84.4K shares	Sold Off 0 shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	−$53.2K −27.0K shares	$67.5K 34.3K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$49.8K −25.3K shares	$39.7K 20.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited HOWL in Q3 2025

New Positions: 4
New Value: $20.6K
Exited Positions: 10
Exited Value: $323.5K

New Positions

Institution	Position Value
Cetera Investment Advisers RIA/Wealth	$20.1K 10.2K shares
A Advisory Services Network, LLC RIA/Wealth	$309.0 157.0 shares
SRS Capital Advisors, Inc. RIA/Wealth	$133.0 68.0 shares
O Optiver Holding B.V. Institution	$43.0 22.0 shares

Exited Positions

Institution	Previous Position
Marshall Wace LLP Institution	$113.1K 103.8K shares
Y Y-Intercept Ltd Institution	$92.0K 84.4K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$29.4K 27.0K shares
Q Quadrature Capital Ltd Institution	$28.0K 25.8K shares
T TWO SIGMA SECURITIES, LLC Institution	$24.4K 22.4K shares
Savant Capital, LLC RIA/Wealth	$23.2K 21.3K shares
J Jump Financial, LLC Institution	$12.4K 11.3K shares
WELLS FARGO & COMPANY/MN Institution	$500.0 459.0 shares
Point72 Ltd RIA/Wealth	$439.0 403.0 shares
True Wealth Design, LLC RIA/Wealth	$15.0 13.0 shares

Options Activity

Institutions with the largest Call and Put options positions in HOWL as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with HOWL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
D DC Funds, LP Institution	-	37.32% $1.2M	1.29% 589.1K shares	Q2 2021 Held for 4y 5m	$3.1M
MPM ASSET MANAGEMENT LLC Venture Capital	Ansbert Karl Gadicke Managing Partner	19.08% $8.5M	9.42% 4.3M shares	Q2 2021 Held for 4y 5m	$44.5M
MPM Oncology Impact Management LP Institution	Christian Albrecht Wulf Von Schimmelmann Managing Partner	0.78% $4.7M	5.27% 2.4M shares	Q2 2021 Held for 4y 5m	$610.9M
S SPHERA FUNDS MANAGEMENT LTD. Institution	-	0.30% $1.2M	1.37% 626.8K shares	Q2 2021 Held for 4y 5m	$416.3M
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	0.16% $13.2M	14.61% 6.7M shares	Q2 2021 Held for 4y 5m	$8.1B
Partner Fund Management, L.P. Hedge Fund•Sector	Jonathan Jude Aljoe CFO	0.07% $790.2K	0.88% 401.1K shares	Q2 2021 Held for 4y 5m	$1.2B
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.00% $200.9K	0.22% 102.0K shares	Q2 2022 Held for 3y 5m	$4.7B
P Point72 Asia Pte. Ltd. Institution	-	0.00% $25.6K	0.03% 13.0K shares	Q2 2025 Held for 5 months	$645.8M
Financial Perspectives, Inc RIA/Wealth	Daniel James Dugan President	0.00% $13.3K	0.01% 6.8K shares	Q2 2021 Held for 4y 5m	$360.4M
Regal Investment Advisors, LLC RIA/Wealth	John Anthony Kailunas CEO	0.00% $53.6K	0.06% 27.2K shares	Q3 2024 Held for 1y 2m	$1.5B

Hedge Fund Spotlight

Discover hedge funds investing in HOWL

Partner Fund Management, L.P.

Hedge Fund • Sector

Portfolio ManagerJonathan Jude Aljoe

Portfolio Value: $1.2B
Positions: 66
Last Reported: Q3 2025

Sector Allocation

Position in Werewolf Therapeutics, Inc.

Market Value: $790.2K
Shares Held: 401.1K
Portfolio Weight: 0.07%
Owned Since: 2021-Q2

Top Holding	Sector	Market Value	Weight
1 Eli Lilly LLY	Drug Manufacturers - General Healthcare	$171.8M	14.85%
2 Tenet Healthcare THC	Medical - Care Facilities Healthcare	$93.7M	8.10%
3 Axsome Therapeutics AXSM	Biotechnology Healthcare	$64.4M	5.57%